Part A - For the Organization
Stakeholder Analysis
Stakeholder analysis refers to the method uses qualitative data to know the interests and effects of different groups on the company. Internal stakeholders are the individuals within an organization, who are directly affected by the company’s activities. External stakeholders are the individuals outside the organization, but are indirectly affected by the performance of the company (Holland 126). The internal and external stakeholders of Cancer Council NSW are identified in table 1.
Scope of Risk Management
SWOT Analysis
Political: The government of NSW has taken various initiatives in relation to cancer prevention that indirectly also affect the Cancer Council NSW. For instance, the government of NSW has made a deal with the U.S. regarding cancer research. The scientists from the U.S. National Cancer Institute will collaborate with the two research organizations from Sydney on the “Cancer Moonshoot” program to boost cancer research. The initiative will be beneficial for Cancer Council NSW also because it will speed up the identification of new anti-cancer agents to quickly detect childhood cancer (Mitchell).
Economic and Social: Doran et al. (2015) indicated that due to higher numbers of skin cancer incidence in Australia, direct and indirect economic costs have increased. In turn, it is important for the institutions to make monetary savings by decreasing incidences of skin cancer. Moreover, the research indicated that people who live in the lower socio-economic areas of NSW have lower rates of cancer survival. In addition, smoke, high level alcohol consumption, poor diet and unhealthy body as part of social factors contribute to cancer (Cancer Council NSW).
Legal: Recently, new regulations have been passed against e-cigarettes in NSW to reduce the cancer rate in the young kids. The devices will not be prohibited in case of their usage as aid to quit smoking. The regulations will positively affect the Cancer Council that played key role in passing the law (Spooner).
Technological: Technology plays key role in every field. In the same way, first cancer scanning technology in NSW to detect circulating tumor cells (CTCs) enabled the medical organizations to make improvements in the personalized medicine and quality of life of people suffer from cancer (NSW Government).
Risk Factor
One of the risk factors identified in the earlier section is the economic cost of skin cancer. Sun exposure and other factors have increased the rate of direct and indirect economic costs. In turn, the organizations like Cancer Council NSW is required more donations to cover that costs. Direct costs are higher in females than males and indirect costs are higher in males than females. Hence, there is a need to reduce the skin cancer incidences by increasing awareness, developing prevention programs and using new technology for early detection.
Part B - For the Event
Risk Management Objectives and Critical Success Factors
Cancer Council NSW has planned to conduct a charity walk known as Seven Bridges Walk on 30 October 2016. The risk management objectives are as follows:
In addition, the critical success factors for Seven Bridge Walk are as follows:
High quality assistance providing to participants through volunteers is critical to the success of an event.
Effective implementation of risk management strategies is important for the success of the event.
High level communication and controlling measures are critical factors to the success of the event for donation.
Action Plan
The risks that are volunteers exceed their roles and scratches have been occurred. To mitigate these issues, effective strategies will be used. For instance, the volunteer will be trained under the supervision of Cancer Council NSW’s training manager. The training program will be developed, including code of ethics, treatment to participants, and regulations to follow regarding duties to organization and participants of charity events. The training will be provided for one month period. In turn, written tests and interviews will be conducted to monitor their performance. On the other hand, the risk of scratches will be catered by providing first aid kits to instructors in case of incidents and participants. Agreement will be made with the reputed pharmacy to purchase the first aid kits to avoid the risk.
Indecencies in in Risk Management Practices
One of the main reasons of inadequacies in risk management practices is the insufficient training and education program. It can be ascertained by the fact that SAI Global limited to manage risks involves in ethical decision making through compliance and ethics training and awareness. The training and awareness involve employees and business partners to run a risk free international level program. The training solutions provided by the company enable the companies to increase the awareness level of employees and business partners to take right steps (SAI Global).
In addition, poor risk management and monitoring is the key reason of deficiencies in risk management practices. The importance of training and feasible risk management reporting and monitoring process is linked to the risk management practices of SAI Global. The company to decrease level of deficiencies in risk management practices increases the internal resources with skilled local employees to asses risk and advice on an effective program. Moreover, high level communication is assured to communicate and manage policies regarding risks. Furthermore, high level technology and compliance software help to manage risks. In addition, innovative risk management courses are part of risk management practices (SAI Global).
Future trends
One of the ley trends of the future that Cancer Council NSW will need to consider is the environmental sustainability. It is identified that from a risk compliance perspective, environmental sustainability will be the top issue in coming years. The driving forces include high volumes of rules and regulations related to environmental sustainability and high level social pressures on the companies by media, community and customers at local level. Another factor is the macroeconomic aspects like credit, capital and currency as key risk and compliance issues that can affect the business significantly in future (SAI Global 8).
The participants responded to a study and indicated that topics, such as climate change, global warming, and carbon emissions along with waste an water management are the issues that will play key role in future in relation to risk compliance. Currently, 35% businesses in Australia focus on the policies related to measurement and monitoring of carbon emissions. Furthermore, economic factors are directly linked to the effective risk management initiatives to be in place to increase the level of success (SAI Global 8).
Work Cited
Cancer Council NSW. Annual Report. Web. Jul 22. 2016. < http://www.cancercouncil.com.au/wp-content/uploads/2015/12/CCN17181_Annual_Report_2015_web.pdf>
Cancer Council NSW. Cancer survival rates significantly worse for people in lower socio-economic areas. 25 Feb. 2016. Web. 22 Jul. 2016. <http://www.cancercouncil.com.au/media-release/cancer-survival-rates-significantly-worse-for-people-in-lower-socio-economic-areas/#h7fSvtQSPUURLiOm.99>
Doran, Christopher M., et al. "Estimating the economic costs of skin cancer in New South Wales, Australia." BMC public health 15.1 (2015): 1.
Holland, Jeremy. Tools for institutional, political, and social analysis of policy reform: a sourcebook for development practitioners. USA: World Bank Publications, 2007.
Mitchell, Georgina. NSW Government to collaborate with United States on cancer research. Jul 18. 2016. Web. Jul 22. 2016. <http://www.smh.com.au/national/health/nsw-government-to-collaborate-with-united-states-on-cancer-research-20160718-gq8g3f.html>
NSW Government. New technology paves the way for personalised cancer treatment. 13 Dec. 2013. Web. 22 Jul. 2016. < https://www.cancerinstitute.org.au/about-us/news/new-technology-paves-the-way-for-personalised-canc>
SAI Global. Effective Risk Management. 2016. Web. 23 Jul. 2016. <https://www.saiglobal.com/compliance/solutions/risk-management.htm>
SAI Global. Risk and Compliance in Australia the Issues and Trends as seen by Practitioners. 2008. Web. 23 Jul. 2016. < https://www.saiglobal.com/compliance/resources/whitepapers/issues-trends-in-australian-risk-compliance.pdf>
Spooner, Rania. Cigarette bans and laws to apply to vaping. 21 May. 2016. Web. 22 Jul. 2016. < http://www.theage.com.au/victoria/cigarette-bans-and-laws-to-apply-to-vaping-20160520-gp02cl.html>
Appendices
Appendix A
Risk Register
Appendix B
Risk Treatment Schedule and Plan
Appendix C
Risk Action Plan
Appendix D
Risk Management Plan
